Sumitomo Mitsui Trust Holdings Inc. Sells 25,726 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of IQVIA Holdings Inc. (NYSE:IQV) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,013,710 shares of the medical research company’s stock after selling 25,726 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.56% of IQVIA worth $256,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its position in IQVIA by 327.6% in the fourth quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after acquiring an additional 95 shares in the last quarter. Rise Advisors LLC bought a new stake in IQVIA in the 1st quarter worth approximately $31,000. BKM Wealth Management LLC bought a new position in IQVIA during the fourth quarter valued at approximately $32,000. Riverview Trust Co purchased a new position in shares of IQVIA during the first quarter worth approximately $32,000. Finally, Activest Wealth Management bought a new stake in shares of IQVIA in the 4th quarter worth approximately $35,000. Institutional investors own 89.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IQV. Barclays decreased their target price on shares of IQVIA from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Evercore ISI decreased their price target on IQVIA from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Robert W. Baird dropped their price objective on IQVIA from $254.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. Finally, Truist Financial cut their price target on shares of IQVIA from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.73.

IQVIA Stock Performance

Shares of IQVIA stock opened at $206.65 on Thursday. The business has a fifty day simple moving average of $222.84 and a two-hundred day simple moving average of $229.89. The firm has a market capitalization of $37.65 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.89 and a beta of 1.49. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.19 by $0.11. IQVIA had a net margin of 9.01% and a return on equity of 29.17%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. On average, equities analysts forecast that IQVIA Holdings Inc. will post 10.11 earnings per share for the current fiscal year.

About IQVIA

IQVIA Holdings Inc engages in the provision of advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.